Answer:
I suggest you delay your choice until you learn more of Zenith's current management
Explanation:
The management is just a position that doesn't carry the same character. Every manager carries different values and principles and one person might be satisfactory to you while another might not be. The new management may have some characters which might be off-putting to you and might ruin the company's conference. Best to go with what you know than what you don't.
In the implementation phase of the marketing process, ethics can be introduced by _______. a. including ethical statements in the firm's mission and vision b. statements policing the violation of human rights and child labor laws c. encouraging employees to exhibit ethical behavior d. putting systems in place to check ethical issues and react to changes
Answer:
The correct answer is C
Explanation:
In the phase of the implementation or execution of the strategy of the marketing, when the business or firms are recognizing the potential markets and the methods to deliver the 4Ps and the firms also need to consider the issues of the ethical.
Under this phase, the ethics is defined as encouraging or inspire or uplift the employees in order to exhibit the ethical behavior.
Sal contracts with Tasty Pizza Company to deliver its products. Later,both parties change their minds and decide to cancel their contract.The next day, Sal again offers to deliver Tasty’s products. Tasty iswilling to deal, but for a new price. Sal and Tastya.can agree to a new contract, but it cannot include a new price.b.can agree to a new contract that includes the new price.c.must perform their original contract.d.must perform the part of their original contract that isexecutory.
Answer:
.b.can agree to a new contract that includes the new price
Explanation:
When Sal and Tasty agreed to cancel their first contract, that was the end of that particular contract. No further negotiations can take place because the contract doe not exist. By calling Tasty the following day, Sal was initiating a new contract.
A new contract does not need to make any references to the canceled contract. Sal and Tasty are free to negotiate for new terms and negotiations since this is a new contract. The details of the canceled contract are no longer binding to them.
Elba Company leased machinery to Conecuh Company on January 1, 2017, for a ten-year period expiring December 31, 2026. Equal annual payments under the lease are $300,000 and are due on January 1 of each year. The first payment was made on January 1, 2017. The rate of interest used by Elba and Conecuh is 9%. The cash selling price of the machinery is $2,100,000 and the cost of the machinery on Elba's accounting records was $1,860,000. Assuming that the lease is appropriately recorded as a sale for accounting purposes by Elba, what amount of interest revenue would Elba record for the year ended December 31, 2017?A. $0
B. $162,000
C. $189,000
D. $81,000
Answer:
The interest charged for the year will be the amount that Conecuh has to pay at the start of the year. In this case the amount that Conecuh has to pay at the start of the year (January 1, 2017) is the amount left after his equal annual payment. The price at which Conecuh purchased is $2,100,000 of which $300,000 was paid at the start of the year. So the residue amount is:
Liability = $2,100,000 - $300,000 = $1,800,000
So the interest charge which is 9% is= $1,800,000 * 9% = $162,000
Option B is the correct answer.
Benny spends all of his money buying wine and cheese. Diminishing marginal utility applies to both goods. The marginal utility of the last bottle of wine he bought is 60, and the marginal utility of the last block of cheese he bought is 30. The price of wine is $3, and the price of cheese is $2. Benny A. is spending too much money on wine and cheese. B. should buy more wine and less cheese C. should buy more cheese and less wine. D is buying wine and cheese in the utility-maximizing amounts QUESTION 28 3.85 pointsSave Answ Suppose ivy buys only two things, books and coffee, and receives the same satisfaction from the last book bought as she did from the last coffee bought. Books cost twice as much as coffe, and she has spent all of her money. Diminighing marginal utility applies to both goods. If she is trying to maximize her utility A vy should buy more books and less coffee B hy should buy more coffee and fewer books C vy should buy more coffee and more books. yis making the right choice
Answer:
B) should buy more wine and less cheese
Explanation:
Chaos State Bank has an old computer system which can go down for weeks at a time, leaving customers unable to access their accounts online. Many customers have left the bank for banks with more reliable computer systems. Which type of risk would this be an example of_____________A. Operational riskB. Legal riskC. Compliance riskD. Strategic riskE. Reputation risk
Answer: A. Operational risk
Explanation:
Operational risk is a possibility of loss that happens as a result of inefficient system or policies, it could also be a result of someone not following internal policies or due process. Operational risk can be as a result of factors such as natural disasters, unfavourable or weak financial policies, fraudulent acts, etc.
In thinking about it, Jerzy realizes that he and Leon could create a shoe-manufacturing facility in Spain. Doing so would certainly require a large outlay of money, but Jerzy thinks that with his expertise in shoe design and Leon’s expertise in navigating Spanish management and business practices, they could create a partnership that has true synergy.(A) Global outsourcing (B) Acquisition (C) Licensing (D) Joint venture
Answer:
In thinking about it, Jerzy realizes that he and Leon could create a shoe-manufacturing facility in Spain. Doing so would certainly require a large outlay of money, but Jerzy thinks that with his expertise in shoe design and Leon’s expertise in navigating Spanish management and business practices, they could create a partnership that has true synergy Licensing
Explanation:
Jerzy and Leon thought they could be licensed to start the business since both of them are expertise in design and navigatingspanish management and business practices. These should give them the edge to be licensed and kickj start the business of shoe manufacturing
According to the Comparative Analysis of Tools and Technologies for Policy-Making theory, there are 11 possible main categories of Information Communications Technology (ICT) tools and technologies that can be used for policy-making purposes.True / False.
Answer:
True
Explanation:
The eleven categories are
Visualization : for better understanding of dataArgumentation: visualize the structure of complex arguments using graphseParticipation : encourages participation in social and political processOpinion mining : interpret public comments written in different applicationSimulation :guides towards making decision concerning future actionsSerious games:Train usersPolicy making : to help in policy makingPersuasive tools : to convince users for change of attitudeSocial network analysis : analyse social network users behavioral patternBig data : supports helps in processing large dataSemantics and linked data: analyzing and publishing large dataGroundswell Industries, a U.S.-based large conglomerate, competes in the hospitality, education, telecommunications, entertainment, airlines, and chemical industries. It currently operates in about 30 nations, and is planning to expand its portfolio by investing in rapidly developing countries. Which of the following strategies is Groundswell Industries pursuing?(A) zone pricing(B) niche marketing(C) product-market diversification strategy(D) process diversification strategy
Answer:C. Product-market diversification strategy
Explanation: Product-market diversification strategy is a business strategy where a company invests in different product lines like FOOD,MEDICALS, ENGINEERING,CEMENT etc and in different markets. This will make the Business organisation to be very versatile and able to over come certain harsh economic conditions. Many international and multinational companies have pursued this strategy to enhance their overall business growth and development.
__________ consist of organization infrastructure (administration and management), human resources (employee recruiting, hiring, and training), technology (improving products and the production process), and procurement (purchasing input).
Answer:
Secondary Activities
Explanation:
Secondary activities inside an organization are those who support the primary activity. The primary activity consists in the production and distribution of goods and/or services to customers, while secondary activities are meant to improve aspects of the primary activity.
For example, the goal of human resources is to create good labor conditions so that employees are happier, and therefore, more productive. And the goal of the technology department is to engage in research to produce new goods or provide new services in the future.
termountain Healthcare is a very large organization with thousands of employees. List at least four methods it uses to communicate with employees. Why do you think this organization feels the need to use so many different methods to communicate?
Answer:
1) ELECTRONIC MAILS(Email)
VERBAL COMMUNICATION( 2)MEETINGS AND FORUMS)
3)PRINT MEDIA( NOTICE BOARDS,HAND BILLS)
4)WRITTEN LETTERS
THE NEED FOR COMMUNICATION
(1) To ensure effective growth and development of its employees.
(2) To ensure effective performance of the entire Team.
(3) To ensure everyone works in line with its STRATEGIC OBJECTIVE.
Explanation: Communication is key to effective performance of Organisations, proper communication helps to ensure that an organization is in constant interaction with its employees. Most Global Organisations will have to device several means of communication with its team to help it's business because Communication is needed for successful Business.
Organizational markets is another name for _____. A. single-sourcing markets B. outsourcing C. business-to-business markets D. government markets E. resellers
Option C
Organizational markets is another name for business-to-business markets
Explanation:B2B (business-to-business) marketing is retailing of goods to companies or another businesses for aid in making of goods, for application in usual business processes, or resale to different users, so as a wholesaler marketing to a retailer.
Business to business commits to trade that is carried within organizations, preferably than within a firm and personal customers. While buyers accept goods based not solely on cost but on reputation, rank, and additional sensitive triggers, B2B customers obtain judgments on value and gain inherent simply.
Consider the following statement:
Local government bans on plastic grocery bags due to environmental concerns have led to increased emergency room visits and deaths related to harmful bacteria such as E. coli, as many people do not wash their bags after each use.
Which of the following best characterizes the statement?
a. The statement demonstrates that even when government policies are enacted with good intentions, they do not always guarantee good outcomes due to unintended consequences and secondary effects.
b. The statement shows that all environmental regulations have benefits that exceed the costs.
c. The statement demonstrates that normative economics is often confused with positive economics.
d. The statement is an example of the fallacy of composition because all foods do not contain harmful bacteria.
Answer:
a. The statement demonstrates that even when government policies are enacted with good intentions, they do not always guarantee good outcomes due to unintended consequences and secondary effects.
Explanation:
The government had good intentions by banning plastic grocery bags for environmental concerns, but this led to harmful E. coli infections.
The take-away is that when policies are implemented, apart from the primary effect the secondary long term effect should also be considered.
Becky asks her friend Maggie to walk her dog for her, and Maggie agrees. While out walking, the dog gets away from Maggie and runs into Mr. Edwards' garden, digging up some expensive plants. Which statement best characterizes this situation?
a. Becky is liable for the damages to Mr. Edwards' garden, because she exercised control over her agent, Maggie.
b. Maggie is liable for the damages to Mr. Edwards' garden, because she was walking the dog at the time of the damage.
c. Both Becky and Maggie are equally liable for the damages to Mr. Edwards' garden--the dog belongs to Becky, but Maggie was walking him at the time of the damage.
d. Neither Becky nor Maggie is liable for the damages to Mr. Edwards' garden because no agency relationship existed between Becky and Maggie.
Answer:A. Becky is liable for the damages to Mr. Edwards' garden, because she exercised control over her agent, Maggie.
Explanation:This is a situation where a person is working under the instructions of another, Becky will take the full responsibility for the damage done by the Dog to Mr. Edwards garden.
This can be seen also in conditions where a principal gives instructions or job to an Agent, the actions of the agent will directly impact the Principal as the Agent is working according to the directives of the principal.
As per the text, Becky talks to friend Maggi to walk her dog and while walking the dog gets away. The Maggi runs into Mr. Edward garden to dig dome expensive plants.
The statement that would best characterize her would be Berkey is liable for the damages to Mr. Edward garden as she gave the control to her agent Maggi.Hence the option A is correct.
Learn more about the Maggie to walk her dog for her, and Maggie agrees
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Your company identifies an untapped need for its products in a foreign country. However, limited transportation to this country makes exporting difficult, and the lack of an adequate water and sewer system makes manufacturing impossible. This is an example of how a U.S. firm attempting to enter global markets encounters ________ challenges.
Answer:Physical and environmental challenges
Explanation: Physical challenges refers to limited transportation , the actual challenges that will hinder physical activities that the business needs to embark on and environmental challenges refers to inadequate water and lack of sewer system , it would be difficult to run the business without water and proper sewer services that can be used by the employees.
_______ are special-purpose printers that use output from graphics tablets or other graphical input devices that are typically found in architectural and engineering environments.
Answer:
The correct word for the blank space is: Plotters.
Explanation:
Plotters are high precision printing and cutting devices. They are used to print plans and projects. They are considered external devices that allow drawing o scheme diagrams and graphs. There are monochromatic plotters and other versions of four, eight, and twelve colors.
The correct answer which can be used to complete the given sentence is:
Plotters
Based on the given question, we can see that we need to find the name of a special purpose printer which makes use of output from graphical input devices.
With this in mind, we can see that a plotter is the correct answer because they make use of high precision to print building plans and are considered as external devices because they are not like the conventional printers which makes use of papers.
Therefore, the correct answer is plotters
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The labor union of a machinery manufacturing company went on strike demanding an increase in their wages. Craig, the chief human resource officer of the company, called a meeting with the labor union leader and came to a consensus that the company would increase the wages of the workers who take the night shifts. In the context of managerial roles, which of the following decisional roles does Craig illustrate in this scenario?
Answer:
disturbance handler role
Explanation:
Disturbance handler refers to a managerial role that handles unforeseen incidents and complexities. Disturbance Handler works as problem solver in leadership. ' Anomalous conditions ' within the control structure which may affect the network performance. Thus, from the above explanation we can conclude that the given case depicts disturbance handler role.
In Country A, the production of 1 bicycle requires using resources that could otherwise be used to produce 11 lamps. In Country B, the production of 1 bicycle requires using resources that could otherwise be used to produce 15 lamps. Which country has a comparative advantage in making bicycles?
Answer:
Country A
Explanation:
given data
country A give 11 lamp produce = 1 bicycle
country B give 15 lamps produce = 1 bicycle
solution
we know that country comparative advance is require giving up less of product for producing 1 bicycle
so as that country A has comparative advantage over country B
it is Because Country B has to sacrifice more in order to have 1 unit of the bicycle
so comparative advantage in making bicycles is Country A
Which of the following is a reason for product failure in a firm?a. Resorting to radical innovation with the new products process b.Avoiding the use of the ready—fire—aim approach in the product development process c.Chasing a moving target d.Paying too much attention to customer needs
Answer:
Seemingly the most suitable answer is D. Paying too much attention to customer needs.
Explanation:
Ever heard the impression too much of anything is too bad? That's the case here. When too much attention is given to the customer need, the process of development get stagnated in one point and the company loses the track of their ability to produce such a "perfect" product.
The company should consider their financial.capacity and resources availability as well.
In January you made your final payment on your car loan and in July you got a small home equity loan to replace windows and add a deck. How would you classify these activities in your cash flow statement?
Answer:
financing activities
Explanation:
Cash flows include:
operating activities financing activities: the net amount of money an individual or an organization receives through external funding operations (debts and loans basically). They include money received through new loans or money repaid to creditors. investing activitiesSunset Resort, a successful 100-year-old hotel and resort, entered into a co-marketing arrangement with Sleepytime Hotels, a five-star hotel chain. Both companies benefit from the new relationship. Pleasant is now able to market its facility and services through Sleepytime's marketing team, and Sleepytime Hotels now offers access to an upscale resort that it can recommend to its customers who are looking for a resort experience. Sleepytime Hotels and Sunset Resort can be considered strategic allies.
Answer:
Yes its true that both companies are strategic allies.
Explanation:
In strategic alliance, two companies work together to achieve their combined objectives. For example if we talk about Sony Ericson K510i cellphone, it was one of best selling cell phones at its time because two companies Sony and Ericson worked together to increase their sales and earn profit. One of these had display and camera capabilities and the other had cellphone designs, etc. These were the things that made the product differentiated from the rest of the cellphones and we see that both companies earned a lot from it.
Sunset Resort and Sleepytime Hotels have entered into a co-marketing arrangement, making them strategic allies to benefit from each other's services.
Explanation:Sunset Resort and Sleepytime Hotels can be considered strategic allies as they have entered into a co-marketing arrangement whereby both companies benefit from the new relationship. Sunset Resort is able to market its facility and services through Sleepytime's marketing team, while Sleepytime Hotels can recommend Sunset Resort to its customers looking for a resort experience. This partnership allows both companies to expand their offerings and reach a wider customer base.
MPI Incorporated has $7 billion in assets, and its tax rate is 40%. Its basic earning power (BEP) ratio is 8%, and its return on assets (ROA) is 3%. What is MPI's times-interest-earned (TIE) ratio? Do not round intermediate calculations. Round your answer to two decimal places.
Answer:
Times interest earned (TIE) = 2.67
Explanation:
EBIT = $7 bllion x 8% = $560,000,000
ROA = net income / total assets
3% = net income / $7,000,000,000
net income = $7,000,000,000 x 3% = $210,000,000
earnings before taxes = net income / (1 - tax rate) = $210,000,000 / 60% = $350,000,000
if EBIT = $560,000,000 and EBT = $350,000,000, then interests = EBIT - EBT = $560,000,000 - $350,000,000 = $210,000,000
Times interest earned (TIE) = EBIT / interest expense = $560,000,000 / $210,000,000 = 2.67
MPI's Times Interest Earned (TIE) ratio is 2.50.
To calculate the Times Interest Earned (TIE) ratio, we need to use the following formula:
TIE = EBIT / Interest Expense
First, we need to calculate Earnings Before Interest and Taxes (EBIT):
ROA = EBIT / Total Assets
So, EBIT = ROA × Total Assets
EBIT = 0.03 × $7 billion
EBIT = $210 million
Next, we need to calculate Interest Expense:
Interest Expense = EBT × Tax Rate
Interest Expense = (EBIT - Interest Expense) × Tax Rate
Interest Expense = ($210 million - Interest Expense) × 0.4
Interest Expense = $84 million
Now, we can calculate the TIE ratio:
TIE = $210 million / $84 million
TIE = 2.50
Eula, a company that manufactures soda, offers its latest products at very low prices. Eula's strategy is based on the assumption that more customers will be willing to buy its products if they are offered at lower prices. Eula has adopted this strategy to attract a larger customer base and increase its sales volume even though it will only gain a small profit on each individual sale. In this scenario, Eula has implemented the _________ strategy.A. high/low pricing
B. skimming pricing
C. penetration pricing
D. loss-leader pricing
Answer:
C. penetration pricing
Explanation:
Penetration pricing is a marketing strategy where price is set to a low amount in order to get a large portion of the market within a short time.
It is based on the logic that consumers will prefer to buy goods at lower prices.
Penetration pricing is used to get market share and profits are gained at scale. That is small profits on each sale, and when there is large sales turnover profit will be high.
During May, the cost of goods manufactured was $55,000. The beginning finished goods inventory for the month was $22,000, and the ending finished goods inventory was $34,000. What was the cost of goods sold for May?
Answer:
$43,000
Explanation:
The cost of goods sold refers to the direct expense incurred in producing goods sold by a company. The formula for calculating the cost of goods sold (COGS) is as follows
COGS=Beginning Inventory+Purchases −Ending Inventory. For a manufacturing firm, Purchases is replaced by manufactured goods.
In this case:
Beginning inventory is $22,000
Ending inventory is $ 34000
Cost of manufactured goods is $55,000
Therefore:
COGS = $22000+ $55000 -$34,000
COGS =$43,000
The general journal for Wells Tech includes the entry below. Based on the information in this entry, which of the following can you determine about the corresponding general ledger entries?
The rent expense of $650 was debited to account 500 and the cash paid was credited to account 600.
Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Debit cash and credit a liability account or a revenue account.
Answer:
Debit cash and credit a liability account
Q:
Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Explanation:
The company will dbeit the cash, as it is receiving it and cash is an asset account that increase from debit.
As the company receives the amount in advance, it assumes the obligation to perform in the future. This is the concept of a liability.
To be a revenue, it is required that the services or sale is performed. As the payment is before the sale or service it is not earned.
Which of the following does not describe a trial balance? a. Proves that all transactions have been recorded b. Proves the mathematical equality of debits and credits after posting c. Assists in the preparation of the financial statements d. May uncover errors in journalizing and posting
Answer:
Statement which doesn't describe a trail balance is: Option A: Proves that all transactions have been recorded.
Explanation:
A Trial balance lists the accounts and their balances. It is like an internal control made by the accountants to check general ledger's accuracy. It extracts the list of debit and credit balance from the ledger and adds them. They should be equal else some error has been made. These errors might be human. It doesn't prove that company has recorded all its transactions.
So, all statements are correct describing trial balance except Option A.
Apex Corp. asks its consumers to determine how they perceive the similarities and dissimilarities among relevant product attributes for a group of competing brands. In this case, Apex Corp. is most likely using the technique of _____.
A.concept testing
B.behavioral targeting
C.perceptual mapping
D.bivariate regression analysis
E.analysis of variance (ANOVA)
Answer: (C) Perceptual mapping
Explanation:
The perceptual mapping is one of the type of technique that is used by the marketers for visually displaying the different types of perceptions of the consumers and the users.
It is also known as the market mapping technique that is used for the developing the various types of brands and the products in the market for based on the customer perspective.
According to the given question, the Apex corp. is using the perpetual mapping technique for determining the different types of product attribute in the market.
Therefore, Option (C) is correct answer.
Micromedia offers computer training seminars on variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micormedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $300 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800. Micromedia rents computers for its seminars at a cost of $30 per computer per day.
a. Develop a model for the total cost to put on the seminar. Let x represent the number of
students who enroll in the seminar.
b. Develop a model for the total profit if x students enroll in the seminar.
c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much
profit will be earned if their forecast is accurate?
d. Compute the breakeven point.
Answer:
Explanation:
a. Total cost=4800+30*2*x=4800+60x
The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800
Computer rental - $30 per day
Length of seminar - 2 days
X - number of students
b. total profit = revenue-costs incurred = 300x-(4800+60x)=240x-4800
Projected fee - $300 per student
c. If 30 students enrolled
profit=240*30-4800=7200-4800=2400
d. 240x-4800=0
x=4800/240=20
break-even point is 20, it is point at with profit will equal zero
IN the given case, the multimedia develop the model of cost as 4,800+60x, its total cost model is 240x-4,800, they earned a profit of $2,400 and the breakeven point is 20.
What is the breakeven point?The break-even point is defined as the point in which the total cost and the total revenue are equivalent.
This means that there is no profit, no loss condition for the small business.
(a). Computation of the total cost model:
The total cost model is made with the help of The cost for the conference room, instructor compensation, lab assistants, and promotion and computer seminars.
Therefore, the total cost model is:
According to the given information,
The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800.
Length of seminar = 2 days
Computer rental = $30 per day
Number of students = X
Therefore, the total cost model is:
[tex]\text{Total Cost}=\$4,800 +30 \times 2 \times x \\\text{Total Cost}=\$4,800+60x[/tex]
(b). Computation of total profit model:
According to the given information,
Projected fee= $300/- Student
Therefore, total profit model is:
[tex]\text{Total Profit} = \text{Revenue-Costs Incurred}\\ \text{Total Profit} =300x-(\$4,800+60x)\\\text{Total Profit} =240x-\$4,800[/tex]
(c). Computation of profit earning:
In the given case, 30 students enrolled for the seminar,
[tex]\text{Profit}=240 \times 30-\$4,800\\\text{Profit}=\$7,200-\$4,800\\\text{Profit}=\$2,400[/tex]
(d). Determination of breakeven point:
According to the given information,
Let,
[tex]240x-\$4,800=0[/tex]
Then, the breakeven point is:
[tex]x=\dfrac{\$4,800}{240}\\\\x =20[/tex]
The profit will be 0 at the breakeven point of 20.
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Genesis Technologies has adopted an SOA approach to systems development. A new "disruptive" technology, Senstor, has recently been launched in the market which promises to provide significant benefits to software companies that focus on collaborative process. In such a scenario, how is Genesis Technologies most likely to react?
Answer:
It will use resources efficiently to adapt itself to the new technology
Explanation:
SOA which means service oriented architecture is a pattern of designing new software where the other components depends on the application components through a network of communication protocols.
Being a new technology , it will take a period of time before Genesis can have a good understanding that will facilitate an effective use , therefore it has to use its resources efficiently during the early stage of the product adoption
When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be:_____
Answer:
Inelastic
Explanation:
When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be inelastic
1. Change in price = 2.75-1.5 / (1.5+2.75)/2 = 1.25/2.125 = 0.59
2. Change in quantity demanded = 375-250 / (375+250)/2 = 125/ 312.5 = 0.4
3. Price Elasticity = 0.4/0.59 = 0.68
4. When the value of elasticity is less than 1, it suggests that the demand is insensitive to price and is inelastic
Using the midpoint method to calculate the price elasticity of demand for hamburgers, we find that the elasticity is approximately -0.68; therefore, hamburgers are said to be price inelastic.
When the price of hamburgers increased from $1.50 to $2.75 and the quantity demanded decreased from 375 units to 250 units, using the midpoint method, we can calculate the price elasticity of demand to determine how sensitive the quantity demanded of hamburgers is to a change in price. The midpoint method formula for elasticity is given by:
Elasticity (E) = (Q2 - Q1) / [(Q2 + Q1) / 2] / (P2 - P1) / [(P2 + P1) / 2]
Plugging in the values we get:
E = (250 - 375) / [(250 + 375) / 2] / ($2.75 - $1.50) / [($2.75 + $1.50) / 2]
E = (-125) / (312.5) / (1.25) / (2.125)
E = -0.4 / 0.5882
E = -0.68 (approximately)
Since the absolute value of elasticity is less than 1, hamburgers are said to be price inelastic.
JBC Customs only hires people who are curious and eager to learn as its managers believe that those are the two traits every employee needs to have if they want to contribute anything of value to the company. Every applicant is carefully screened, and only those applicants who have these two traits are chosen to proceed further in the hiring process. In this scenario, JBC Customs is using _____
A) concertive control
B) adaptive control
C) bureaucratic control
D) normative control
Answer: (D) Normative control
Explanation:
The normative control is refers to the process of governing the behavior and the values of the different types of standards and the norms. It basically handle all the financial, bureaucratic, financial and the quality related controls in an organization.
According to the given question, the normative control basically used by the JBC custom for the hiring process and the every applicant are carefully screen by an organization.
Therefore, Option (D) is correct answer.